Dogecoin is a cryptocurrency that started as a joke in 2013. It is a satirical homage to bitcoin, designed to serve no real purpose other than generating a few laughs. It is named after an internet meme centered around the image of a Shiba Inu dog with bad spelling habits—thus “doge” instead of “dog.”
Dogecoin may have started off as a joke but if you are an investor that got in at the beginning of 2021 the cryptocurrency would’ve yielded you returns of over 11,000% says MarketWatch.com.
Yesterday a slew of investors came out of the wood works to grab Dogecoin as it hit record highs and appears to be going nowhere but up. Meek Mills posted on his IG story a $50,000 investment in the altcoin at around $0.54 amid all the social media hype leading up to Elon Musk’s SNL appearance on May 8th.
The love is real but is the hate is real also. The surge of attention is not all positive, a slew of non investors have negative reviews about the cryptocurrency for whatever reason they feel personally. Billionaire Warren Buffet take shots at the Robinhood app, a commission free investing application where you can buy Dogecoin. Buffet says apps like Robinhood makes it easier for people to invest and that in turn makes investing like a casino.
Even though there are some haters there is no doubt that with 11,000% return in 2021 so far is no joke as the “people’s currency” is rising in ranking to number 4 on the cryptocurrency charts.